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Supply and Demand Flashcards | StudBud
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Supply and Demand
Supply and Demand
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Questions
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Answers
1
A demand ________ shows the quantities demanded at different prices.
Schedule
Graph
Curve
2
A limited supply of a good does what to prices?
Causes them to go down
Prices do not change
That poor unicorn
Causes them to go up
3
The demand for video game consoles is higher then the amount supplied, this creates what?
Angry People
Surplus
Shortage
Equilibrium
4
There are 254 selections in the NFL Draft and of 3,500 players. There is a ______ of Players.
Surplus
Shortage
Demand
Equilibrium
5
This graph shows what?
Decrease in Supply
Increase in Supply
6
What changes quantity supplied or quantity demanded of a good?
Inferior product becomes cheaper
The price of the good changes
The Government
Complimentary good price change
7
What way does a supply line slope?
up
down
left
right
8
What is the kind of price described by the graph?
Surplus
Shortage
Equilibrium
9
When are you going to bring back the form Mr. Cole gave you today?
Never
Tomorrow
I hope Mr. Cole fails and doesn't get his Masters Degree
Sometime in the near future
10
What is a government payment to farmers to grow one particular crop over another?
Elasticity
Utility
Subsidy
11
What is listed on the vertical axis of a supply or demand graph?
Production Cost
Unicorns
Quantity Demanded
Price
12
Like Channing Tatum all resources are what?
Infinte
Scarce
Elastic
13
What is the satisfaction a consumer receives when they consume a product?
Utility
Compliment
Substitute
14
These are what?
Cookies
Delicious
Complimentary Goods
Milk
15
The concept of diminishing marginal utility means that?
Cookie monster enjoys the last cookie more than his first.
Cookie monster enjoys the first cookie more than his last.
Cookie monster enjoys all cookies the same.
16
the desire, willingness, and ability to buy a good or service.
Supply
Equilibrium
Market Demand
Demand
17
What kind of goods are these?
Superior
Complimentary
Inferior
Substitute
18
Who wore it better?
Trump
Corn
19
The total demand for deadpool products is called?
Demand Utility
Market Demand
Diminishing Utility
20
What is the amount of a good or service that producers are willing to sell?
Demand
Supply
Utility
MMMMMM Bacon
